Sullivan John Warren 4

What Happened

• John Warren Sullivan, Senior Vice President of Matson, was issued 5,960 performance shares on 2026-01-25 (reported as an A-type award). The grant is reported at $0 acquisition value (footnote F2) but was worth about $947,282 at the reported price of $158.94/share.
• To cover tax withholding obligations, a total of 3,669 shares were withheld (reported as F-type dispositions): 182 shares on 2026-01-24 (related to a prior RSU vesting per footnote F1) and 403 + 3,084 shares on 2026-01-25 (withholding related to the performance shares per footnote F3). The withheld shares are reported at $158.94/share, totaling $583,151.

Key Details

• Transaction dates and prices:
  • 2026-01-24: 182 shares withheld at $158.94 = $28,927 (tax withholding on prior RSUs, F1)
  • 2026-01-25: 5,960 performance shares issued at $0 reported value (F2); market value ≈ $947,282 at $158.94
  • 2026-01-25: 403 shares withheld at $158.94 = $64,053 (tax withholding on performance shares, F3)
  • 2026-01-25: 3,084 shares withheld at $158.94 = $490,171 (tax withholding on performance shares, F3)
• Net shares received from the 5,960 performance-share award after performance-related withholding (403 + 3,084 = 3,487) = 2,473 shares.
• Total shares withheld across all entries = 3,669 shares (value ≈ $583,151).
• Footnotes: F2 = issuance on satisfaction of performance criteria; F1 and F3 = company withheld shares to satisfy tax withholding obligations (not open-market sales).
• Shares owned after the transactions are not provided in the excerpt — see the full Form 4 for post-transaction holdings.
• Filing: Reported on 2026-01-27 for transactions dated Jan 24–25. No late-filing flag is indicated in the provided summary.

Context

• These F-coded dispositions are tax-withholding actions tied to vesting/awards, not indicative of open-market selling by the insider. The key signal here is the receipt of performance shares (A/F2); after tax withholding Sullivan retained roughly 2,473 net shares from that award.